typical Russian hubris. Admits he's a crook, but wants everyone to thank him for being such a great help to the community.
arent there any anti-ponzi laws in russia?
arent there any anti-ponzi laws in russia?
In 2007 Sergei Mavrodi was found guilty in a Russian court of defrauding 10,000 investors out of 110 million rubles ($4.3 million)
On April 28, 2007, a Moscow court sentenced him to four and a half years in a penal colony. The court also fined him 10,000 rubles ($390)
In January 2011, Mavrodi launched another pyramid scheme called MMM-2011. Mavrodi said that his goal with MMM-2011 is to destroy the current financial system, which he considers unfair, which would allow something new to take its place. MMM-2011 was able to function openly as Ponzi schemes and financial pyramids are not illegal under Russian law.
There you have it, a short summary of his history with Ponzi schemes. The authorities are well aware of this and have reacted on this before. Lately countries like China & India and South Africa have been targeted by this too.
